All information provided will be treated as confidential and will only be disclosed back to members in a consolidated form.

To supply to IFFO qualitative information that could be of interest to other members, as soon as available. For example information on quotas, fishing bans, research cruises, changes in the industry, new regulations, weather conditions, etc.

To promptly pay membership fees as they are invoiced

To not distribute members-only information to non-members

To remain a creditworthy producer of fishmeal and fish oil by virtue of either own manufacturing assets or suitable contract arrangements

b. For all Non-Producer members

To abide by IFFO’s Code of Conduct, which is available on the website

To uphold the interests of IFFO and not act in such a way that could bring the Organisation’s name into disrepute

To promptly pay membership fees as they are invoiced

To not distribute members-only information to non-members

c. Additional for Premium Non-Producer members

To share information and participate actively in the Market Forums, which means being prepared to comment on market trends in their individual sector of expertise – not just at the meetings, but also during regular individual calls with IFFO staff.

With shippers and brokers prepared to share information on logistic costs and trends

With feed companies prepared to share information on feed market trends, including fishmeal and fish oil inclusion and substitution

With oil refiners and human nutraceutical manufacturers prepared to share information and market trends, including market trends on fish oil for human consumption

With all categories prepared to share information about non-proprietary developments from their own specialist sector with potential benefit to our industry (e.g. new financial instruments; engineering process and system developments; laboratory techniques etc.)

Action in the case of non-compliance:

In the event of non-compliance after due warnings have been given, the privilege of membership may be withdrawn by a management board resolution without any obligation to refund membership fees for the year in question. Such action to expel a member from IFFO shall be subject to two formal written warnings by IFFO, including an initial specific complaint and a final warning by the Director General.

Upon signing, applicant members agree to the following:

a. To have read, understood and will abide by the contents herein - ‘The Rights and Duties of IFFO Non-Producer Members’.

b. All application details are made in good faith and correct to their best knowledge; and

c. To accept that the IFFO management board has full discretion to decide on applications for membership and that their decision is final.

IFFO Code of Conduct

2. WHY DO WE NEED THIS DOCUMENT?​

1.1 The ongoing success of IFFO, and the worldwide fishmeal and fish oil industry it represents, depends upon the maintenance of its reputation for supporting integrity, ethical corporate behaviour, customer safety and strong environmental standards. It is important that IFFO has in place safeguards to avoid damage to its reputation from inappropriate behaviour by any of its members. In case it is required, as an ultimate sanction, the IFFO board has the constitutional right[1] to take action if a member has acted in a manner which has brought, or is likely to bring, the reputation of IFFO Limited into disrepute, or has acted in a manner which is otherwise considered to amount to a breach of the Code of Conduct from time to time agreed by the IFFO board.

1.2 The aim of this Code of Practice is to focus selectively on inappropriate behaviour that is serious and material and affects the reputation of IFFO. It is not intended as a route for individual companies to challenge others for commercial reasons in relation to relatively trivial matters.

2. REQUIREMENTS

2.1 Behaviour by members likely to bring into disrepute the reputation of IFFO and its membership, which could be deemed a breach of the Code, includes the following:

2.1.1 knowingly or recklessly making a false statement of a material nature to IFFO or any IFFO mandated body, including:

making a false statement in an application for membership;

making a false statement regarding annual production (used to calculate levies);

making a false statement to a third party as to the extent of the member's RS certification;

2.1.2 acting in a manner that amounts to a material breach, or is likely to amount to a material breach, of any applicable law or regulation in any jurisdiction worldwide, or amounts or is likely to amount to the member being a party to such a breach; and

2.1.3 the member or a senior executive, director or significant shareholder of the member, being found guilty of a serious criminal offence.

2.1.4 the member breaching ethical standards e.g. in employment of labour, environmental stewardship or misleading stakeholders.

2.2 To aid clarity, examples of matters which should not be deemed a breach of this Code include the following:

non-payment of fees - this is adequately dealt with under existing procedures

2.3 Note that if the Disciplinary Committee (see below) or board considers it appropriate to do so, the behaviour of a senior executive, director or significant shareholder of a member may be treated as the behaviour of that member in determining whether there has been a breach of the Code by a member.

2.4 In the case of association members of IFFO, as well as being able to decide on breaches of the Code by the association member and the making of any orders on the association member, the Disciplinary Committee or board may also consider behaviour of an individual member of the association which, if that local member had been a direct member of IFFO, would have amounted to a breach of the Code and make any orders against the association member it considers necessary as a result of that behaviour.

3. DISPUTE PROCEDURES

3.1 Any member of IFFO who considers that another member has breached the Code can refer an alleged breach of the Code to the President or the Director General, either of whom can determine to refer the alleged breach to the Disciplinary Committee. Either the President or the Director General may also refer a matter to the Disciplinary Committee on their own initiative. Non-members may also raise an alleged breach with the President or Director General.

3.2 A Disciplinary Committee shall be formed and is responsible for considering allegations of breach of the Code, deciding whether any member has breached the Code, and determining whether any orders need to be made as a result. This is a committee of four IFFO board members, including the President and the Vice President.

3.3 The Disciplinary Committee shall establish its own procedures for considering if there has been a breach of the Code and whether any final or interim orders should be made, but it must always give the member involved a reasonable opportunity to respond to the allegations made against the member.

3.4 Decisions of the Disciplinary Committee shall be made on a unanimous basis. If any decision cannot be made on a unanimous basis, the matter shall be referred by the Disciplinary Committee to the full board who, as a general rule, take a decision by a 75% majority.

3. SANCTIONS (INTERIM AND FINAL ORDERS)

4.1 The Disciplinary Committee or the board, having determined that a member has breached the Code, may impose sanctions by making one or more of the following orders:

4.1.1 that the member should be expelled

4.1.2 to suspend the member from active involvement in the activities of IFFO, or any particular activity (e.g. attendance at conferences) for a specified period;

4.1.3 to remove any employee or any other representative of the member from the board or the rights of any particular employee or other representative of the member to participate in the activities of IFFO (e.g. to attend conferences); and

4.1.4 to suspend a particular employee or any other representative of the member from active involvement in the activities of IFFO, or any particular activity (e.g. attendance at conferences) for a specified period.

4.2 In certain cases the Disciplinary Committee or board may also suspend a member/employee, or other representative of a member, while a particular allegation is being considered.

APPEALS AND OBJECTIONS

Any determination of a breach of the Code of Conduct made by the Disciplinary Committee may be appealed to the full IFFO board by the plaintiff or defendant. However, if the determination is made by the full IFFO board, there is no further redress and all decisions by the full board are final.